Ramiah Investment Group purchased a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,696 shares of the bank's stock, valued at approximately $450,000. Regions Financial makes up approximately 0.5% of Ramiah Investment Group's portfolio, making the stock its 25th largest holding.
Several other institutional investors and hedge funds have also modified their holdings of RF. Picton Mahoney Asset Management increased its holdings in Regions Financial by 2,354.9% in the 4th quarter. Picton Mahoney Asset Management now owns 1,252 shares of the bank's stock valued at $29,000 after buying an additional 1,201 shares during the period. Millstone Evans Group LLC bought a new position in Regions Financial in the 4th quarter valued at about $32,000. Rossby Financial LCC bought a new position in Regions Financial in the 1st quarter valued at about $36,000. Grove Bank & Trust increased its holdings in Regions Financial by 76.6% in the 1st quarter. Grove Bank & Trust now owns 1,876 shares of the bank's stock valued at $41,000 after buying an additional 814 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Regions Financial by 181.2% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,225 shares of the bank's stock valued at $76,000 after buying an additional 2,078 shares during the period. 79.39% of the stock is currently owned by institutional investors and hedge funds.
Regions Financial Trading Up 0.1%
Shares of NYSE:RF traded up $0.03 during mid-day trading on Wednesday, hitting $24.69. The company had a trading volume of 8,090,374 shares, compared to its average volume of 8,376,410. The firm has a fifty day moving average price of $22.16 and a 200 day moving average price of $22.37. The company has a market capitalization of $22.19 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83. Regions Financial Corporation has a one year low of $17.74 and a one year high of $27.96.
Regions Financial (NYSE:RF - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The bank reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.84 billion. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, research analysts forecast that Regions Financial Corporation will post 2.26 EPS for the current year.
Regions Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, May 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Monday, June 2nd. Regions Financial's dividend payout ratio is 48.08%.
Wall Street Analyst Weigh In
RF has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Regions Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods reduced their price target on shares of Regions Financial from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company reduced their price target on shares of Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Citigroup raised their price objective on shares of Regions Financial from $26.00 to $27.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Finally, Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of Regions Financial in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $26.15.
Read Our Latest Stock Analysis on RF
Regions Financial Profile
(
Free Report)
Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.
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